AUTOMOTIVE INDUSTRY NEWS
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O.C. auto dealers see increases in 2011
Sales and revenue increased for local auto dealers, a positive indicator for an improving economy
by caitlin adamsPublished: March 14, 2012 08:00 AM
O.C.’s auto dealerships had a very positive year for sales and returns
last year, based on the annual assessment from the Newport Beach-based Orange County Automobile Dealers Assosciation
(OCADA). According to the group’s 2011 Economic Impact Report, local
franchised dealerships had a combined economic impact of more than $7.6
billion in 2011, a 17.8 percent increase over 2010’s sales.
A
total of 224,640 vehicles were sold over the year in Orange County ––
almost 10 percent more than the previous year –– which generated $647
million in tax revenue. Of that amount, almost $59.5 million went
directly back to Orange County cities, exceeding 2010’s local city tax
revenue by 15 percent.
O.C.’s 117 franchised auto dealers
comprise the fourth largest employer group in the county, paying out
more than $560 million in wages and benefits last year.
“Orange
County’s franchised new vehicle dealers’ impact of $7.6 billion benefits
our communities and local and state governments, as well as the more
than 11,000 individuals they employ,” said John Sackrison, executive
director of the Orange County Automobile Dealers Association. “The 2011
Economic Impact Report illustrates how our local automotive retail
market continues to improve and rebound, and we anticipate that 2012
will also show marked improvement as the local and national economies
continue to improve.”
Related headlines
February sales surge for local car brands
Kelley Blue Book expects auto sales numbers to increase in February
Japanese automakers face loss of sales as Hyundai and GM gain speed
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A total of 224,640 vehicles were sold over the year in Orange County –– almost 10 percent more than the previous year –– which generated $647 million in tax revenue. Of that amount, almost $59.5 million went directly back to Orange County cities, exceeding 2010’s local city tax revenue by 15 percent. O.C.’s 117 franchised auto dealers comprise the fourth largest employer group in the county, paying out more than $560 million in wages and benefits last year. “Orange County’s franchised new vehicle dealers’ impact of $7.6 billion benefits our communities and local and state governments, as well as the more than 11,000 individuals they employ,” said John Sackrison, executive director of the Orange County Automobile Dealers Association. “The 2011 Economic Impact Report illustrates how our local automotive retail market continues to improve and rebound, and we anticipate that 2012 will also show marked improvement as the local and national economies continue to improve.” Related headlines February sales surge for local car brands Kelley Blue Book expects auto sales numbers to increase in February Japanese automakers face loss of sales as Hyundai and GM gain speed |
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